Poland and Romania are asking the EU to track Ukraine road / rail wheat exports more closely. Local farmers in countries joining Ukraine are concerned that the flood of cheap Ukraine grain heading west and south by road is filling local homes and not making it to seaports for export thus decreasing prices to local farmers.

High palm oil prices may just be what the rapeseed oil and sun oil markets need to see at the moment. Palm oil usually trades at a discount to canola and sunflower oil but export restrictions from Indonesia have sent palm values higher. The rally in palm oil value coincided with a sharp fall in canola values which resulted in some substitution of palm oil with canola or sunseed oil into Asia, Africa, and the EU. Welcome news for Australian canola growers after producing a record crop in 2022. The trade is hopeful that Indonesian palm exports will increase once Ramadan finishes on April 20th.
Indonesia introduced export restrictions due to lower stocks, 34% lower Jan 22 / Jan 23. The priority was given to domestic supply for Ramadan.

China has picked up another 204kt of US corn, that takes Chinese purchases of US corn to 3.0268mt over the last couple of weeks. Corn futures have rallied 32c/bu (AUD$18.85/t) from the March 9th low. The overall slow pace of US corn exports remain an anchor to prices. It does make one wonder if we will see more Chinese purchases of US corn in the short term. In the March WASDE Chinese production was left unchanged at 277.2mt. Carry in is huge at 209.14mt. Total Chinese consumption is pegged at 297mt and ending stocks 207.32mt. The key here is the production vs consumption numbers, 277 v 297, that’s a 20mt difference. Imagine if ending / opening stocks were dramatically different than stated.